The May Denver Area Real Estate Update and market final figures for April shows listings down 10.5% from April 2019. Not a big surprise because of the COVID-19 pandemic.
The Average Sold Price dropped last month – from $501,594 to $490,024. The Average Days on the Market is down to 25 days.
In April 4,695 homes were sold – about 1,000 less than the month before when the virus had not affected the real estate market as much. The absorption rate is higher than it’s been in quite a few years – if no other homes came on the market it would take almost 2 months to absorb/sell all the homes currently on the market (9,516). For quite awhile we were down to less than a month absorption rate.
That’s the May Denver Area Real Estate Update.
Whenever you are ready, here’s some ways that I can help with your real estate goals:
1) Free Access to search the Denver MLS for all homes currently on the market: Denver Home Finder Service Property Search
2) Join me for a home tour – Home tours are Monday thru Saturday at 2:00 pm or 6:00 pm – choose your tour here
3) Request a specific search that sends all the homes that meet your parameters as soon as they come on the market – that way you can beat others to the best homes. Send me an email with “specific search” in the subject line and your wish list – Price range, school district, style, minimum number of bedrooms, etc. – [email protected]
4) Receive a Home Loan Report –There are so many different loan programs. Do you need 20% down payment to purchase a home? Are there special programs for first time home buyers? What does CHFA mean? What’s the difference between a FHA loan and a Conventional loan? Send me an email – – [email protected] with “Home Loan Report” in subject field and I’ll send it right over.
Also….check these out??